Amitsoq update and exercise of warrants

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

29 January 2026

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

Amitsoq Operations Update

Exercise of Warrants

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that a Request for Tender for the planned Phase III drilling programme at the Company's Amitsoq graphite deposit in south Greenland ("Amitsoq") has been sent to a selection of drilling companies. The Company also announces receipt of notices to exercise warrants over a total of 3,269,231 new ordinary shares of 0.1 pence each in the Company ("Warrant Shares") at an exercise price of 2p per Warrant Share, raising £65,384.62 for the Company.

Phase III Drilling at Amitsoq

The current mineral resource at Amitsoq of 23.05 million tonnes ("Mt") at 20.41% graphitic carbon (JORC measured, indicated and inferred), estimated on the basis of the successful drilling programmes in 2021 and 2022, was announced on 23 January 2023. The estimated resource of 1.26Mt at 22.05% in the measured category and 6.12Mt at 21.04% in the indicated category can sustain significant mining operations at a nominal mining rate of 400,000t per year for more than 18 years. As such, the planned supplementary Phase III drilling programme will serve mainly to provide important geotechnical and structural information related to the Prefeasibility Study ("PFS") which is planned to start in Q4 2026. The results of the Phase III drilling will also assist in refining the mine design and provide information about the extension of the graphite orebodies which are indicated at surface to stretch for another 500m in a northeast-ward direction from the Phase I and II drill holes.

The Request for Tender has been sent to a total of ten drilling companies with experience of Arctic and sub-Arctic drilling programmes. The drilling programme is planned for this summer and will comprise 10-15 drill holes for 2,000-2,500m of drilling. The Phase III programme is based on the outcome of a Gap Analysis commissioned by GreenRoc from technical consultants SLR Consulting in December 2025 to confirm the full geological and geotechnical dataset required for the PFS. Bids are to be submitted to the Company by 20 February 2026.

Digbee ESG assessment submission

GreenRoc has filed updated data and documentation to its retained Environment and Social Governance ("ESG") consultants, Digbee, for ongoing independent assessment of the Company's ESG compliance. As stated when the Company announced its first Digbee assessment in 2025 (see RNS dated 25 February 2025), Digbee is a technology and research platform focused on the mining and minerals industry, providing ESG disclosure and assessment solutions tailored for mining companies, investors, and stakeholders. Digbee helps mining companies align with global ESG standards, improve transparency, and mitigate risks, making it easier for them to demonstrate sustainability commitments. 

GreenRoc is the only active mineral developer in Greenland to hold such an independent ESG certification. The Company will continue to subscribe to Digbee's annual ESG assessment in order to maintain its this important certification.

Pilot processing plant and EUDP grant programme

The Company expects the graphite mills for its anode materials pilot plant to arrive in the first half of March 2026. GreenRoc expects to move into the building which will house the pilot plant, situated north of Copenhagen, Denmark, during February, after which GreenRoc staff will start preparing the premises to receive the mills.

The project announced by the Company on 15 December 2025, which is funded by a grant of £1.2m from the EUDP, has commenced, with the kick-off meeting held in January at GreenRoc's offices and involving the Greenroc team and engineers and researchers from the Danish Technical University and consultancy engineering company IPU. The first phase of development work will start in February 2026. Supported by the EUDP grant, Greenroc has ordered a range of analytical instrumentation to be ready for quality testing of anode materials once the graphite mills are in operation (expected to be in the latter part of H1, 2026).

To enable the activities associated with running the pilot plant in Denmark, a Danish subsidiary company, GreenRoc DK a/s, has been established, with new office premises adjacent to the warehouse hosting the pilot plant.

Exercise of warrants

Application will be made for the 3,269,231 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 3 February 2026 ("Admission"). The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

Following Admission, the Company's issued share capital will comprise 282,541,861 ordinary shares of 0.1p each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

**ENDS** 

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About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite. Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain several decades of mining. GreenRoc received an Exploitation Licence from the Government of Greenland on 8 December 2025, valid for 30 years.

The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material - an indispensable component of Li-batteries - which plans have independently and positively evaluated to prefeasibility study stage.

GreenRoc has entered into a partnership with the Norwegian battery manufacturer Morrow Batteries to establish a regional supply chain. The Amitsoq Project has been designated a Strategic Project by the EU and in March 2025 it was also ESG-certified by Digbee™, an independent platform which provides sustainability assessments for the mining industry. In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark ("EIFO"), for the financing of the Company's work programme. In December 2025, GreenRoc, together with its consortium partners DTU and IPU, has been granted a sum of up to DKK 10,448,826 (ca £1.2m) for its project entitled "EU-Graphite: Building European production of graphite active anode material" ("EU-Graphite") from the Energy Technology Development and Demonstration Programme ("EUDP"), a Danish government funding programme.